API Data Show U.S. Crude-oil Supply Down 2.2 Million Barrels: Sources

The American Petroleum Institute late Tuesday reported a fall of 2.2 million barrels in U.S. crude supplies for the week ended Dec. 2, according to sources. Analysts polled by S&P Global Platts expected stockpiles to decline by 1.7 million barrels. Supply data from the Energy Information Administration will be released Wednesday morning. January crude was at $50.82 a barrel in electronic trading, down from the contract’s settlement of $50.93 on the New York Mercantile Exchange.